A Breakdown of What Makes a FICO Score Knowing your credit score is imperative when applying for new loans because it helps you determine whether or not you are a good candidate. While you can receive free reports from all three credit bureaus annually, many lenders use your FICO score to determine whether you are [...]
Filed under Credit Scoring by on Nov 2nd, 2012. Comment. 
36% Say Low Credit Scores Are Acceptable! For many years, America has been struggling with a troubled economy and it seems that this constant uphill battle has influenced the attitudes of millions of people when considering credit scores. The average credit score in the US is 736 and due to a good credit score rating [...]
Filed under Credit Scoring by on Oct 16th, 2012. Comment.
Ever wonder how much more a bad credit rating costs per month? Probably not, if you have good credit. Here are a few examples of what a subprime rating can cost in certain situations, according to Money Magazine. $25,000 auto loan…Excellent credit: 4.2%…sub-prime credit: 11.3%. That is an extra $81 per month. $50,000 15 year [...]
Filed under Credit Scoring by on Dec 30th, 2011. Comment.
Just saying subprime loan or bad credit auto loan could get you shot in some circles, but is it really impossible to buy a new car if your credit is less than stellar? Yes, it is a real possibility. The number of lenders who specialize in financing credit scores under 620 has grown to include [...]
Filed under Auto Loan Industry, Credit Scoring by on Aug 31st, 2011. Comment.
No matter how bad the taste in your mouth is after you say sub-prime lending, America needs to see a higher number of people with risky credit getting second chance loans. No one bumped their head before writing this article. Here is why a surge in sub-prime loans will fuel the economy in the short [...]
Filed under Auto Loan Industry, Credit Scoring by on May 31st, 2011. Comment.
If you know that you need an auto loan with 600 credit score or lower, then you know that getting that loan might be a little difficult. You can minimize your chances of being rejected by following these four simple tips. Check your credit report before shopping When you are considered for an auto loan [...]
Filed under Auto Loan Industry, Credit Scoring by on May 2nd, 2011. Comment.
An increase in auto loan approvals after an economic downturn usually starts with the higher credit scores. In recent weeks, there has been a jump in the number of approved loans for lower credit scores as well. So far in April that trend is continuing. Early data indicates that the average FICO scores approved for [...]
Filed under Auto Loan Industry, Credit Scoring by on Apr 19th, 2011. Comment.
Affordable cars and bad credit car loans go hand in hand. That is not to say you can not afford a more expensive car, just that you may not want to jump into one right away. There are two reasons to get a bad credit car loan on a cheap car: it is easier to [...]
Filed under Car Shopping Tips, Credit Scoring by on Apr 18th, 2011. Comment.
